Fred Alger Management LLC Acquires 537,398 Shares of Talen Energy Corporation $TLN

Key Points

• Fred Alger Management LLC increased its stake in Talen Energy Corporation by 56.3%, acquiring an additional 537,398 shares, bringing its total holdings to approximately $297.9 million.
• Other institutional investors, including Third Point LLC and Ameriprise Financial Inc., have also made significant investments in Talen Energy, indicating growing interest in the company.
• Talen Energy reported earnings of $1.50 per share, surpassing analyst estimates and projecting a consensus of $326.08 per share for future performance.

Fred Alger Management LLC grew its holdings in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) by 56.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,492,145 shares of the utilities provider's stock after acquiring an additional 537,398 shares during the quarter. Talen Energy accounts for approximately 1.7% of Fred Alger Management LLC's investment portfolio, making the stock its 14th largest position. Fred Alger Management LLC owned 3.28% of Talen Energy worth $297,937,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Third Point LLC bought a new stake in shares of Talen Energy during the 1st quarter valued at approximately $116,807,000. PointState Capital LP acquired a new stake in Talen Energy in the first quarter valued at approximately $75,148,000. Ameriprise Financial Inc. boosted its position in Talen Energy by 6,621.1% in the first quarter. Ameriprise Financial Inc. now owns 303,661 shares of the utilities provider's stock valued at $60,638,000 after buying an additional 299,143 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Talen Energy by 120,677.8% during the first quarter. Jones Financial Companies Lllp now owns 223,439 shares of the utilities provider's stock worth $44,614,000 after buying an additional 223,254 shares during the last quarter. Finally, Nishkama Capital LLC acquired a new position in shares of Talen Energy during the first quarter worth $32,243,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TLN has been the subject of a number of research reports. Wall Street Zen upgraded Talen Energy from a "sell" rating to a "hold" rating in a research note on Monday, August 11th. Melius Research started coverage on Talen Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $427.00 target price for the company. Oppenheimer set a $315.00 price target on Talen Energy and gave the company an "outperform" rating in a research note on Friday, July 11th. Morgan Stanley boosted their price target on Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Barclays upped their price objective on Talen Energy from $353.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Fifteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $326.08.

Talen Energy Price Performance

Shares of TLN opened at $389.19 on Monday. The business has a 50-day moving average of $342.25 and a 200-day moving average of $266.41. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34. The company has a market capitalization of $17.78 billion, a price-to-earnings ratio of 110.25, a price-to-earnings-growth ratio of 2.68 and a beta of 1.89. Talen Energy Corporation has a 1 year low of $137.55 and a 1 year high of $394.25.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of ($1.13) by $2.63. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. The company had revenue of $630.00 million during the quarter, compared to analysts' expectations of $481.48 million. As a group, equities research analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Insider Activity

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the sale, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 388,530 shares of company stock worth $114,090,933.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.

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